Arcutis Biotherapeutics Inc reports results for the quarter ended in June - Earnings Summary

Arcutis Biotherapeutics

15/08/2024 05:34

* Arcutis Biotherapeutics Inc  ARQT.OQ  reported a quarterly
adjusted loss of 42 cents​​ per share for the quarter ended in
June, higher than the same quarter last year, when the company
reported EPS of $-1.16.  The mean expectation of six analysts
for the quarter was for a loss of 52 cents per share. Wall
Street expected results to range from -56 cents to -45 cents per
share.
    * Revenue rose 494.6% to $30.86 million from a year ago;
analysts
expected $29.08 million. 
    * Arcutis Biotherapeutics Inc's reported EPS for the quarter
was a
loss of 42 cents​.
    * The company reported a quarterly loss of $52.33 million.
    * Arcutis Biotherapeutics Inc shares had risen by 7.0% this
quarter and gained 208.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 11.4%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Arcutis
Biotherapeutics Inc is $19.00 
This summary was machine generated from LSEG data August 15 at
04:34 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.52          -0.42          Beat
 Mar. 31 2024      -0.73          -0.32          Beat
 Dec. 31 2023      -0.77          -0.72          Beat
 Sep. 30 2023      -0.86          -0.73          Beat